With Robert Iger as CEO, Disney’s Revenues Soared From $48.5B to $257B; What’s His Net Worth?
|Date of Birth
|February 10, 1951
|United States of America
Robert Iger's net worth
Robert Iger, an accomplished American entrepreneur and CEO, boasts a wealth of $350 million. Under Iger's leadership, Disney underwent an evolution, becoming a highly prosperous entertainment entity. This transformation was achieved through strategic decisions, including the acquisition of competitor firms like LucasFilm, Pixar, and Marvel.
What are Robert Iger's sources of income?
Head at ABC
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In 1974, he joined ABC, starting in a humble position with a meager salary. Over the next 15 years, he consistently climbed the corporate ladder, achieving the position of head of ABC Entertainment in 1989. Subsequently, he assumed roles as the president of ABC Network Television Group and Vice President of Capital Cities/ABC in 1993. Continuing his upward trajectory, he advanced to the role of Chief Operations Officer (COO) of ABC's parent company, Capital Cities/ABC in 1994.
CEO at Disney
In 1996, Walt Disney bought Capital Cities/ABC, and Robert Iger stayed on as COO. He later became President until 1999 when he took over as President of the Walt Disney Company, working under CEO Michael Eisner. In 2005, Iger replaced Eisner as CEO, a move supported by Roy E. Disney and others who sought a fresh direction for the company, even launching a Save Disney campaign before settling on Iger as the new CEO.
Under Bob Iger's leadership, Disney made strategic decisions that led to remarkable financial success. In just 13 years as CEO, Disney's market capitalization soared from $48.5 billion to an impressive $257 billion. When Iger assumed the role of CEO, the company reported a profit of $2.5 billion in that year alone. By 2019, his final full year as CEO, Disney's revenue had surged to $10.4 billion. During the period from 2005 to 2020, Disney shares experienced a remarkable 400% increase, excluding dividends.
A standout decision during Bob Iger's tenure as Disney CEO was the bold move to acquire Pixar in 2006, a deal valued at $7.4 billion, marking a complete takeover by Disney. Another significant move came in 2009 when Iger acquired Marvel Entertainment for $4 billion. In 2011, Iger assumed the role of chairman of the board and also joined the board of directors of Apple, Inc. This marked a close intertwining of Disney and Apple following Iger's strategic business dealings.
In 2012, Bob Iger orchestrated another remarkable acquisition, purchasing LucasFilm from George Lucas for $4 billion. This strategic move granted the Walt Disney Company ownership of iconic franchises like "Indiana Jones" and "Star Wars." Despite the apparent high costs of these acquisitions, Disney swiftly saw a substantial return on its investment. By 2014, Disney had already recouped the entire $4 billion spent on acquiring Marvel. The release of "Star Wars: The Force Awakens" in 2015 was a game-changer, grossing $2 billion at the box office and single-handedly recouping half of Disney's investment.
21st Century Fox
In 2018, Disney, under Bob Iger's leadership, made another audacious move by successfully acquiring 21st Century Fox. Despite initially planning for Iger's CEO contract to conclude in 2018, Disney extended his tenure twice in 2017, eventually setting the end date for 2021. However, Iger voluntarily stepped down in 2020, a year earlier than his contract stipulated. A year prior, he also resigned as a member of Apple's board of directors, citing potential conflicts of interest as Apple ventured into the entertainment realm with Apple TV.
Robert Iger's salary at Disney
At one point, the $1.08 million worth of Disney shares owned by Bob Iger reached a market value of $130 million. In the years leading up to his retirement, Iger typically earned between $40 million and $50 million annually, including his base salary, bonuses, and stock grants. In 2015, his reported annual salary was $44.9 million. In 2019, Forbes disclosed that Iger received a $3 million salary that year along with a $21.8 million bonus. Additionally, he garnered $19.6 million from stock awards and options, totaling his earnings to $47.5 million for the year.
Robert Iger's personal life
Bob Iger has been married twice. His first marriage to Kathleen Susan Iger ended in divorce. Together, they have two daughters. In 1995, Iger entered into his second marriage with journalist Willow Bay. Their wedding ceremony was an interfaith union, combining Jewish and Roman Catholic traditions, held in Bridgehampton, New York.
Robert Iger's awards
In 2012, Robert Iger was honored with the Ambassador of Humanity Award, a recognition presented to him by Steven Spielberg. He also received the Milestone Award from the Producer's Guild of America in 2014. In 2019, Iger's achievements made him named Time Magazine's Businessperson of the Year.
Why did Bob Iger resign as Disney CEO?
“I was not happy with what I was seeing. I worked hard to build the company into what it was over a long period. I was proud of those accomplishments. It hurts when something that you've put your heart and soul into is going through a difficult time”, Iger commented about his resignation as CEO.
What is Robert Iger's net worth?
Robert Iger has a net worth of $350 million as of December 2023.
What made Bob Iger successful?
Bob Iger is among the world's most admired CEOs because he led landmark acquisitions, made the production of culture-defining films possible, launched cutting-edge distribution platforms, and generated impressive revenue with a people-first attitude.
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